Hi Summo,

Can I suggest that for future protection I would talk to your home insurance provider about extra cover. I know that my insurance covers some things with tenants (and the bad things that can happen) and there may be a policy that suits this scenario. I wish I could rack my memory to when I knew more about it, but it is v. late!

Try…[Read more]

Too wise you are, too wise you be, I see you are too wise for me[wink]

Liz Wilson

Mortgage Lender

Depending on the lender… sometimes wording maybe “completion within 8 months of settlement”.

In essence, be mindful to check any conditions.

Liz Wilson

Mortgage Lender

Here it is straight fromt he dogs mouth:

The land tax threshold of $317,000 is to be abolished. From January 1, all properties worth more than $25,000 will be taxed – although your principal residence will still be tax-free.

Replacing the current land tax rate of 1.7 per cent with tiered tax rates. These will be 0.4 per cent on land values up to…[Read more]

Firstly you want to at the very least split the two loans into different accounts (one loan, two accounts) for tax purposes. Otherwise your accountant won’t like you very much. It also helps in that when you sell your first property, you can pay off the PPOR first, and leave any debt on your IP.

However, be careful in refinancing, about the…[Read more]

Myydral,

Just be careful when you get finance as with a land loan there may be a clause that you need to build within 6 months or 12 months or 24 months etc. If you do not build they can up the interest rate or take further action (they prefer not to).

Yes a similar deposit is required, you may be able to get 85%-90% lend depending on where the…[Read more]

The only instance where you should have one loan for both titles is to keep the total LVR under 80%. But for a refinance this is probably not relevant to you. Keep them seperate if you can… it saves time applying to the bank to have one of your titles discharged.. there are more benefits… keep it seperate. The banks probably want extra…[Read more]

Hi Jo,

I’m not so convinced that the market is that dire… although I’d stay right out of most capital cities personally.

I can give you a contact for NZ investments, there is even a seminar on soon for some up and coming off the plan sales. I also have an excellent contact in Far North Queensland… my jaw drops at some of the deals I finance…[Read more]

Hi Terry,

I will soon be helping Australian Investors purchase in NZ. I even know a real estate who is giving all expenses paid trips to NZ to see the properties.

I can help with finance, the process would be that you need to set up a bank account in NZ which would need to show the funds for the deposit (to prove you can settle). In general you…[Read more]

Hi Jean,

Depends what you mean by structure?

You may want to split the loan into two sub-accounts for the purposes of keeping score of who pays what etc. Most banks split loans quite readily.

Is it a construction loan?

Could you be more specific?

[eh]

Liz Wilson

Mortgage Lender

Need we say more.

Liz Wilson

Mortgage Lender

Yes $1000 is actually not too bad.

Although your broker should always make you aware of these costs, even if it is in the fine print. An ethical broker should make the effort, especially considering your brother even mentioned a forseeable re-finance.

Liz Wilson

With the housing bubble deflating economists are predicting that the reserve bank may even cut the interest rate. So at the moment variable seems more attractive to me. In an unsure market it’s best to hedge your bets with a split loan 50% fixed 50% variable. Sometimes even the experts get it wrong.

Liz Wilson